PIB News Update: The Competition Commission of India (CCI) approves acquisition of Nutrition & Biosciences, Inc. (“Spinco”) by International Flavors & Fragrances Inc. (“IFF”) under Section 31(1) of the Competition Act, 2002, today.
The proposed combination relates to the acquisition of sole control by IFF, over the Nutrition & Biosciences business (“N&B Business”) of DuPont de Nemours, Inc. (“DuPont”), by means of acquiring sole control over SpinCo, a company newly formed by DuPont and to which DuPont will transfer the N&B Business.
IFF is a public company based in New York, United States of America. IFF is active worldwide in the development, creation, and sale of flavours and fragrances that are used in consumer goods industries (such as food and beverage, personal care, or household products industries). IFF’s main business units are ‘Scent’ and ‘Taste’.
SpinCo is a recently incorporated company to which DuPont will transfer its N&B Business. The N&B Business is active worldwide in the development, production, and marketing of food science, taste, and texture applications, and biotechnology products that are used in various industries, including food and beverage, dietary supplements, home and personal care, animal nutrition and pharmaceutical excipients. The N&B Business operates through its ‘Food & Beverage’, ‘Health & Biosciences’, and ‘Pharma Solutions’ units.
A detailed order of the CCI will follow.